SunPower Launches Some of the Industry’s Most Affordable Loans for Solar Customers
SAN JOSE, California, September 8, 2020 / PRNewswire / – SunPower Corp. (NASDAQ: SPWR) today announced new Low Annual Percentage Rate (APR) loans for U.S. residential solar customers. The new tariffs are expected to result in significantly lower monthly payments for homeowners who purchase SunPower’s complete solar power solutions, lowering barriers to entry so more households can use clean solar power to generate their own electricity. , manage their consumption and save money.
Interest in home energy systems has increased dramatically among residential customers due to the COVID-19 pandemic, extended seasons of wildfires and hurricanes, frequent outages and fluctuating utility rates. In the first nine weeks of Q3 2020, SunPower saw a more than 50% increase in customer requested business consultations compared to the same period in 2019.
CHANGES IN PROPERTY TRENDS
According to a july 2020 report by energy research consultancy Wood Mackenzie, customer-owned facilities facilitated by loan financing have overtaken third-party ownership since 2019. SunPower’s new reduced financing rates, as low as 0.99% APR, Customer ownership trends are expected to accelerate, allowing homeowners to build equity in their renewable energy assets. With SunPower’s New 25-Year Low TAP Loan, Homeowners Can Invest in a 6.0kW Solar Power System for Less $ 100 per month.
“Our new financing options advance our goal of giving homeowners control over their own energy at some of the most affordable rates in the market,” said Norm Taffe, executive vice-president of North American chains. “These new, lower rates will allow more homeowners to switch to clean, renewable energy while saving money on their monthly energy costs.”
SunPower is a solar and storage solutions company with a nationwide presence network of independent resellers and expert installers. New low APR financing options support the company’s mission to become North America leading provider of storage and energy services for distributed generation (DG).
About SunPower
Based at California Silicon Valley, SunPower (NASDAQ: SPWR) is the leading provider of storage and distributed generation energy services in North America. SunPower offers the only company-designed and guaranteed solar + storage solution that empowers customers to control energy consumption, resiliency during power outages while delivering savings to homeowners, businesses, governments, schools and more. to public services. For more information visit www.sunpower.com.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding client funding offers and capabilities, expected demand and our ability. to meet them, and cost savings. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties which may cause results to differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes and the availability of economic incentives favoring the use of solar energy and fluctuations or declines in the performance of our solar panels. and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in the documents we file from time to time with the Securities and Exchange Commission (SEC), including our most recent reports on Form 10-K and 10-Q, in particular under the heading “Risk factors”. Copies of these documents are available online from the SEC or in the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements contained in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
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SOURCE SunPower Corp.